Covington Capital Management lifted its position in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 921.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 337 shares of the medical equipment provider’s stock after purchasing an additional 304 shares during the quarter. Covington Capital Management’s holdings in Intuitive Surgical were worth $199,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of ISRG. Evolution Wealth Advisors LLC grew its position in Intuitive Surgical by 283.3% in the fourth quarter. Evolution Wealth Advisors LLC now owns 46 shares of the medical equipment provider’s stock worth $27,000 after acquiring an additional 34 shares in the last quarter. Virtus ETF Advisers LLC purchased a new position in Intuitive Surgical in the fourth quarter worth about $31,000. Princeton Global Asset Management LLC purchased a new position in Intuitive Surgical in the fourth quarter worth about $36,000. Evoke Wealth LLC purchased a new position in Intuitive Surgical in the third quarter worth about $43,000. Finally, Duncker Streett & Co. Inc. purchased a new position in Intuitive Surgical in the fourth quarter worth about $44,000. 85.52% of the stock is currently owned by hedge funds and other institutional investors.
ISRG has been the subject of several recent analyst reports. Goldman Sachs Group initiated coverage on Intuitive Surgical in a research report on Wednesday, February 12th. They set a “buy” rating and a $725.00 target price for the company. JPMorgan Chase & Co. dropped their target price on Intuitive Surgical from $665.00 to $575.00 and set an “overweight” rating for the company in a research report on Tuesday, March 17th. Canaccord Genuity restated a “buy” rating on shares of Intuitive Surgical in a research report on Friday, January 24th. BidaskClub lowered Intuitive Surgical from a “buy” rating to a “hold” rating in a research report on Tuesday, March 17th. Finally, Morgan Stanley boosted their target price on Intuitive Surgical from $620.00 to $670.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $607.67.
Shares of NASDAQ ISRG opened at $460.31 on Thursday. The firm has a market capitalization of $50.42 billion, a price-to-earnings ratio of 39.85, a PEG ratio of 4.11 and a beta of 1.10. The stock has a 50 day moving average price of $535.21 and a 200 day moving average price of $556.15. Intuitive Surgical, Inc. has a 52-week low of $360.50 and a 52-week high of $619.00.
Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings results on Thursday, January 23rd. The medical equipment provider reported $3.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.38 by $0.10. The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.27 billion. Intuitive Surgical had a return on equity of 18.16% and a net margin of 30.80%. Intuitive Surgical’s quarterly revenue was up 22.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.96 earnings per share. Equities research analysts anticipate that Intuitive Surgical, Inc. will post 9.77 earnings per share for the current year.
Intuitive Surgical Company Profile
Intuitive Surgical, Inc designs, manufactures, and markets da Vinci surgical systems, and related instruments and accessories. Its da Vinci Surgical System transforms the surgeon's natural hand movements outside the body into corresponding micro-movements inside the patient's body. The company's da Vinci Surgical System include surgeon's consoles, patient-side carts, 3-D vision systems, da Vinci skills simulators, da Vinci Xi integrated table motions, and Firefly fluorescence imaging products that enable surgeons to perform various surgical procedures, including gynecologic, urologic, general, cardiothoracic, and head and neck surgical procedures.
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